Office · Boca Raton, Florida
791 Park of Commerce Boulevard
791 Park of Commerce Boulevard is financed with a $13.8M CMBS loan at 5.37% that reaches maturity on June 6, 2028, in 19 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $13,814,753
- Original balance (same notes)
- $15,250,000
- Interest rate
- 5.37% fixed
- Originated
- June 5, 2018
- Maturity
- June 6, 2028
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- April 5, 2028
- Master servicer
- Trimont LLC
- Originator
- AREF
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 791 Park of Commerce Boulevard, Boca Raton, FL 33487
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 145,591 sq ft
- Built
- 1994, renovated 2000
- Largest tenants
- KRS Bio Techn; ACG Inc.; PGAL
- Value at securitization
- $24.0M (Mar 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.54x | 1.94x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $1.6M | $2.0M |
| Debt yield | 14.6% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the Morgan Stanley Capital I Trust 2018-H3 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Largest tenant's lease ends within 12 months
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Net operating income is 27% above the underwritten figure ($2.0M a year against $1.6M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.54x at securitization to 1.94x on the latest statements.
- The filing gives May 2027 as the lease end date for the largest tenant (KRS Bio Techn), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $13.8M | Current | No | 1.94x | 100% |
| August 2026 | $13.8M | Current | No | 1.94x | 100% |
| July 2026 | $13.9M | Current | No | 1.83x | 23% |
| June 2026 | $13.9M | Current | No | 1.83x | 23% |
| May 2026 | $13.9M | Current | No | 1.83x | 23% |
| April 2026 | $13.9M | Current | No | 1.83x | 23% |
| March 2026 | $13.9M | Current | No | 1.83x | 23% |
| February 2026 | $14.0M | Current | No | 1.83x | 23% |
| January 2026 | $14.0M | Current | No | 1.83x | 23% |
| December 2025 | $14.0M | Current | No | 1.83x | 23% |
| November 2025 | $14.0M | Current | No | 1.83x | 23% |
| October 2025 | $14.1M | Current | No | 1.83x | 23% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2018-H3 | 22 | $13,814,753 | Sep 2026 | SEC filing, October 2, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aventura Mall | Aventura, FL | Retail | $900.0M | 4.121% | Jul 2028 | n/a | n/a | Current |
| Town Center Aventura | Aventura, FL | Retail | $80.0M | 4.89% | Jul 2028 | 1.71x | 90% | Current |
| Miami Industrial Portfolio | Miami, FL | Industrial | $66.1M | 4.981% | Dec 2028 | 3.32x | 87% | Current |
| Promenade Shops at Aventura | Aventura, FL | Retail | $59.2M | 4.669% | Feb 2028 | 1.47x | 99% | Current |
| AutoNation | Fort Lauderdale, FL | Office | $55.0M | 8.25% | Dec 2028 | n/a | n/a | Current |
| Museum Tower | Miami, FL | Office | $47.0M | 6.546% | May 2028 | 1.66x | 91% | Current |
| Palm Glade Apartments | Belle Glade, FL | Multifamily | $45.0M | 6.685% | Jan 2028 | 1.84x | 98% | Current |
| Causeway Square | North Miami, FL | Mixed use | $43.2M | 5.265% | Nov 2028 | 1.66x | 95% | Current |
All loans maturing in 2028 · All Miami-Fort Lauderdale-West Palm Beach loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.